A software application designed specifically to meet objectives and need of business and enterprises is called as an enterprise application.
Increasing demand for real-time computing services and increasing demand for advanced business process management systems are major factors driving growth of the global enterprise application market. In addition, rising adoption of cloud based services by various sectors such as manufacturing, IT & telecommunication, retail, etc. is another factor expected to further drive growth of the global enterprise application market to a significant extent over the next 10 years.
The global enterprise application market is segmented on the basis of deployment type, solution, vertical, and region. On the basis of deployment type, the global market is segmented into on-premises and cloud. The cloud segment is expected to witness highest growth over the next 10 years.
On the basis of solution, the global market is segmented into customer relation management (CRM), enterprise resource planning (ERP), supply chain management (SCM), business intelligence (BI), business process management (BPM), content management system (CMS), enterprise asset management (EAM), web conferencing, and others
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On the basis of vertical, the global market is segmented into manufacturing, banking, financial services and insurance (BFSI), healthcare, retail, government, aerospace & defense, telecom & IT, and others. The manufacturing segment is expected to account for highest share by 2020, the retail segment is expected to witness highest growth over the forecast period.
On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market accounts for highest share in the global market; whereas the Asia Pacific enterprise market is expected to witness highest growth over the forecast period.
Key players in the global market are Oracle Corporation, Microsoft Corporation, SAP SE, Hewlett Packard Enterprise Development LP, Software AG, International Business Machines (IBM) Corporation, TIBCO Software, Fujitsu, Epicor Software Corporation, MuleSoft, Inc., and other prominent players.